"Big data in Business Intelligence"
INTRODUCTION
Big data is one of the most hyped, and one of the most confusing, business terms in use today. Big data, the unimaginably vast quantities of data that flow relentlessly from web sites, posts to social media sites, digital pictures and videos, purchase transaction records, databases, information systems, mobile devices, social networks and sensors used to gather climate information and cell phone GPS signals.
Big data Management is one of the key challenges that we people are facing today in the big and small organizations. Today business intelligence has developed into a wide range of activities that businesses undertake to understand their internal and external environment. To digest business intelligence properly we need to know about Big Data.
Generally Big Data is the foundation for creating new levels of business value. With integrated storage, analytics, and applications, Big Data helps driving the efficiency, quality, and personalized products and services, producing higher levels of customer satisfaction and experience.
What is Big Data?
Big data is the term for a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications.
Formally, the big data states that there is a triple "v": volume, velocity and variety.
- Volume states the fact of data processing limitations that is coming from data's huge size.
- Velocity argues that data input speed is also crucial, because data is generated and inserted into data storage on high speed.
- Variety states that data is coming from different heterogeneous sources (social networks, sensors, transaction data and etc.)
The major goals for the companies to implement big data are: (a) increase revenue, (b) decrease costs, and (c) increase Productivity.
What is Business Intelligence?
Business intelligence is a technology-driven process for analyzing data and presenting actionable information to help corporate executives, business managers and other end users make more informed business decisions. Business intelligence includes tools and techniques, for the transformation of raw data into meaningful and actionable information for Business analysis.
Big Data vs. Business Intelligence
Big Data and business intelligence are related and are often used in conjunction, but they’re not exactly the same. They each have the same purpose and goal: to use available data in order to learn more about a business, its markets and its customers in order to make better, more successful decisions.
Components of Business Intelligence
- Source Data
- Extract, Transform, Load (ETL)
- Data Warehouse
- Online Analytical Processing (OLAP)
- Visualizations
- Dashboards
Big Data Business Intelligence Tools:
- YELLOWFIN BI
- PENTAHO
- BIRST
- ORACLE HYPERION
- SAS BUSINESS INTELLIGENCE
Advantages of Business Intelligence
- Time saving
- Correct and relevant decisions
- Eliminates Waste
- Identifies Opportunities
Disadvantages of Business Intelligence
- Piling of Historical Data
- Cost
- Complexity
- Time Consuming Implementation
Conclusion
Big data is a driving force that will affect organizations across industries, sectors and economies. Big data must be integrated in the organization’s architecture, even the organization have their well established and large businesses. Big Data can be very useful if used adequately in the Business intelligence process. Integrating BI and Big Data is not an easy task. Business Intelligence solutions make it possible for groups within organizations to gain actionable insight from business data and to leverage the insights using appropriate components, tools, process rules in order to meet critical goals.